ACTIVE

REFINA

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Financial year 2025 · closed on 31/12/2025

Net result

342,1 k €

-18.1% YoY

Gross margin

1,6 M €

-15.4% YoY

Equity

6,5 M €

+2.2% YoY

What does REFINA do?

REFINA is a Public limited company incorporated in 1999. Its registered office is in Grobbendonk.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0467.360.252

Incorporation

19/11/1999

Legal form

Public limited company

Registered office

Kretbosstraat 48
2280 Grobbendonk · FlandreSee on map

Contributed capital

2 844 123,09 €

Latest accounts

31/12/2025

Signals

ProfitableGood liquidityPositive cashflowPositive EBITDA

View the BCE/KBO Public Search record →

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✦ Verdict · Analyst summary

Financials

Trend over 20 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Gross margin	1,6 M €	-15.4%	1,9 M €	+68.2%	1,1 M €	+55.7%	736,9 k €	-20.1%	921,9 k €	-3.7%	957 k €	-2.3%	980 k €	-23.3%	1,3 M €	-5.6%	1,4 M €	+20.2%	1,1 M €	+30.2%	864,8 k €	-12.1%	983,5 k €	-8.6%	1,1 M €	+84.5%	583,1 k €	-26.7%	795 k €	-35.9%	1,2 M €	+18.2%	1 M €	-27.6%	1,5 M €	-19.5%	1,8 M €	+34.2%	1,3 M €
EBITDA	1,6 M €	-12.4%	1,8 M €	+61.5%	1,1 M €	+55.3%	727,9 k €	-17.8%	886 k €	+0.8%	879 k €	-8.3%	958,4 k €	-23.6%	1,3 M €	-3.9%	1,3 M €	+19.5%	1,1 M €	+29.0%	846,6 k €	-11.3%	954,9 k €	-9.7%	1,1 M €	+82.6%	579,3 k €	-18.9%	714,5 k €	-41.4%	1,2 M €	+18.1%	1 M €	-28.4%	1,4 M €	-19.5%	1,8 M €	+36.3%	1,3 M €
Operating result	1,6 M €	-12.4%	1,8 M €	+61.5%	1,1 M €	+55.3%	727,4 k €	-17.9%	886 k €	+0.8%	879 k €	-8.3%	958,4 k €	-23.6%	1,3 M €	-3.9%	1,3 M €	+19.3%	1,1 M €	+28.3%	853 k €	-10.7%	954,9 k €	-9.7%	1,1 M €	+82.6%	579,3 k €	-18.9%	714,5 k €	-41.4%	1,2 M €	+19.5%	1 M €	-29.1%	1,4 M €	-19.5%	1,8 M €	+36.4%	1,3 M €
Net result	342,1 k €	-18.1%	417,5 k €	+703%	52 k €	-74.4%	202,8 k €	-26.3%	275,1 k €	-11.4%	310,6 k €	+0.8%	308,2 k €	-42.8%	538,5 k €	+1.2%	532,1 k €	+6.9%	497,9 k €	+28.6%	387,1 k €	-20.8%	488,6 k €	-6.8%	524 k €	+99.6%	262,5 k €	-22.2%	337,3 k €	-45.2%	615,2 k €	+32.3%	465,1 k €	-12.3%	530,7 k €	-26.9%	725,6 k €	+33.3%	544,2 k €
Balance sheet
Equity	6,5 M €	+2.2%	6,4 M €	+4.4%	6,1 M €	+0.9%	6 M €	+1.7%	5,9 M €	+1.3%	5,9 M €	+1.9%	5,8 M €	+5.7%	5,4 M €	+0.7%	5,4 M €	+0.6%	5,4 M €	+0.9%	5,3 M €	+0.7%	5,3 M €	+0.7%	5,3 M €	+0.5%	5,2 M €	+5.3%	5 M €	+0.8%	4,9 M €	+0.3%	4,9 M €	+0.3%	4,9 M €	+0.6%	4,9 M €	+0.0%	4,9 M €
Total assets	36,4 M €	+0.4%	36,2 M €	+26.6%	28,6 M €	+10.2%	26 M €	+11.4%	23,3 M €	-12.8%	26,7 M €	-8.1%	29,1 M €	+20.8%	24,1 M €	-0.7%	24,3 M €	-4.2%	25,3 M €	+34.2%	18,9 M €	+14.4%	16,5 M €	-10.3%	18,4 M €	-8.3%	20,1 M €	+42.8%	14,1 M €	-8.7%	15,4 M €	-4.0%	16 M €	-12.8%	18,4 M €	+3.1%	17,8 M €	+4.8%	17 M €
Cash	92,7 k €	-50.6%	187,8 k €	-80.8%	976,5 k €	+52.1%	641,9 k €	-82.4%	3,6 M €	+67.0%	2,2 M €	+144%	895,2 k €	-56.2%	2 M €	+222%	635,9 k €	-46.3%	1,2 M €	+241%	347,5 k €	-86.0%	2,5 M €	+26.4%	2 M €	+415%	382,9 k €	-80.5%	2 M €	-61.4%	5,1 M €	+813%	556,8 k €	+327%	130,4 k €	-61.8%	341,2 k €	+195%	115,7 k €
Debts	29,8 M €	-0.0%	29,8 M €	+32.6%	22,5 M €	+12.9%	19,9 M €	+14.7%	17,3 M €	-16.8%	20,8 M €	-10.5%	23,3 M €	+25.1%	18,6 M €	-1.2%	18,8 M €	-5.5%	19,9 M €	+47.3%	13,5 M €	+21.0%	11,2 M €	-14.3%	13,1 M €	-11.1%	14,7 M €	+63.6%	9 M €	-13.9%	10,4 M €	-5.9%	11,1 M €	-16.8%	13,3 M €	+4.3%	12,8 M €	+6.5%	12 M €

Estimate

Indicative valuation

As an indication, this company is worth

between 0 € and 100 k€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 4 active · 35 ended

Active mandates

Eddy ADAMS

Mandate

Active

MAGELINA

Mandate · 0421.299.902

Represented by Georgius VAN DER BORGHT

Active

PRO VISIE

Mandate · 0475.952.472

Represented by Dietmar VAN DYCK

Active

Steffen EMBRECHTS-NUYTS

Mandate

Active

Ended mandates

LUX-SERVICE

Director · since 29 novembre 2021 · until 29 novembre 2027 · 0449.214.819

Represented by Luc EMBRECHTS

Ended

MAGELINA

Director · since 29 novembre 2021 · until 29 novembre 2027 · 0421.299.902

Represented by Georgius VAN DER BORGHT

Ended

PRO VISIE

Director · since 29 novembre 2021 · until 29 novembre 2027 · 0475.952.472

Represented by Dietmar VAN DYCK

Ended

PRO VISIE

Director · since 19 juin 2020 · until 16 juin 2023 · 0475.952.472

Represented by Dietmar VAN DYCK

Ended

At this address

Other companies at this address

Company	CBE no.
PRO VISIE● Active	0475.952.472
Rumst-Ter Haeghe● Active	1040.374.488
Schelle-Heidepark● Active	1037.767.168
Wommelgem-Autolei● Active	1037.522.490

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model
Start of the financial year	01/01/2025	01/01/2024	01/01/2023	01/01/2022	01/01/2021	01/01/2020
Closing of the financial year	31/12/2025	31/12/2024	31/12/2023	31/12/2022	31/12/2021	31/12/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	13/06/2026	16/06/2025	21/06/2024	12/06/2023	15/06/2022	18/06/2021
General meeting	11/06/2026	12/06/2025	13/06/2024	08/06/2023	09/06/2022	18/06/2021
Currency of the financial year	EUR	EUR	EUR	EUR	EUR	EUR
NBB quality label	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls

Ratios

Financial ratios

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Filings

Annual accounts filings

20 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	11/06/2026	13/06/2026	Dutch	PDF
Abridged model	31/12/2024	12/06/2025	16/06/2025	Dutch	PDF
Abridged model	31/12/2023	13/06/2024	21/06/2024	Dutch	PDF
Abridged model	31/12/2022	08/06/2023	12/06/2023	Dutch	PDF
Abridged model	31/12/2021	09/06/2022	15/06/2022	Dutch	PDF
Abridged model	31/12/2020	18/06/2021	18/06/2021	Dutch	PDF
Abridged model	31/12/2019	19/06/2020	07/07/2020	Dutch	PDF
Abridged model	31/12/2018	21/06/2019	29/06/2019	Dutch	PDF
Abridged model	31/12/2017	15/06/2018	29/06/2018	Dutch	PDF
Abridged model	31/12/2016	16/06/2017	19/06/2017	Dutch	PDF
Abridged model	31/12/2015	17/06/2016	20/06/2016	Dutch	PDF
Abridged model	31/12/2014	19/06/2015	29/06/2015	Dutch	PDF
Abridged model	31/12/2013	20/06/2014	27/06/2014	Dutch	PDF
Abridged model	31/12/2012	21/06/2013	24/06/2013	Dutch	PDF
Abridged model	31/12/2011	15/06/2012	03/07/2012	Dutch	PDF
Abridged model	31/12/2010	17/06/2011	27/06/2011	Dutch	PDF
Abridged model	31/12/2009	18/06/2010	14/07/2010	Dutch	PDF
Abridged model	31/12/2008	19/06/2009	14/07/2009	Dutch	PDF
Abridged model	31/12/2007	20/06/2008	10/07/2008	Dutch	PDF
Abridged model	31/12/2006	15/06/2007	05/07/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 0 € and 100 k€

The detail comes with the Business plan: low and high bounds, the valuation bridge for each financial year, transaction multiples by sector and size, group valuation and exports.

Discover the Business plan

Disclaimer

Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.

Governance

Board of directors

Seen on filing of 31/12/2025 · 4 active · 35 ended

Active mandates

Eddy ADAMS

Mandate

Active

MAGELINA

Mandate · 0421.299.902

Represented by Georgius VAN DER BORGHT

Active

PRO VISIE

Mandate · 0475.952.472

Represented by Dietmar VAN DYCK

Active

Steffen EMBRECHTS-NUYTS

Mandate

Active

Ended mandates

LUX-SERVICE

Director · since 29 novembre 2021 · until 29 novembre 2027 · 0449.214.819

Represented by Luc EMBRECHTS

Ended

MAGELINA

Director · since 29 novembre 2021 · until 29 novembre 2027 · 0421.299.902

Represented by Georgius VAN DER BORGHT

Ended

PRO VISIE

Director · since 29 novembre 2021 · until 29 novembre 2027 · 0475.952.472

Represented by Dietmar VAN DYCK

Ended

PRO VISIE

Director · since 19 juin 2020 · until 16 juin 2023 · 0475.952.472

Represented by Dietmar VAN DYCK

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates10/03/2026
MAATSCHAPPELIJKE ZETEL - ONTSLAGEN - BENOEMINGEN
PDF
Mandates08/12/2021
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - ONTSLAGEN - BENOEMINGEN - ALGEMENE VERGADERING
PDF
Mandates18/08/2020
ONTSLAGEN - BENOEMINGEN
PDF
Mandates03/04/2018
ONTSLAGEN - BENOEMINGEN
PDF
Mandates26/07/2017
ONTSLAGEN - BENOEMINGEN
PDF
Mandates02/02/2016
ONTSLAGEN - BENOEMINGEN
PDF
Mandates03/01/2013
ONTSLAGEN - BENOEMINGEN
PDF
Mandates06/09/2011
ONTSLAGEN - BENOEMINGEN
PDF

Source: Belgian Official Gazette

Competition

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

2025
Annual accounts 2025342,1 k €↓
2024
Annual accounts 2024417,5 k €↑
2023
Annual accounts 202352 k €↓
2022
Annual accounts 2022202,8 k €↓
2021
Annual accounts 2021275,1 k €↓
2020
Annual accounts 2020310,6 k €↑
2019
Annual accounts 2019308,2 k €↓
2018
Annual accounts 2018538,5 k €↑
2017
Annual accounts 2017532,1 k €↑
2016
Annual accounts 2016497,9 k €↑
2015
Annual accounts 2015387,1 k €↓
2014
Annual accounts 2014488,6 k €↓
2013
Annual accounts 2013524 k €↑
2012
Annual accounts 2012262,5 k €↓
2011
Annual accounts 2011337,3 k €↓
2010
Annual accounts 2010615,2 k €↑
2009
Annual accounts 2009465,1 k €↓
2008
Annual accounts 2008530,7 k €↓
2007
Annual accounts 2007725,6 k €↑
2006
Annual accounts 2006544,2 k €
19/11/1999
IncorporationPublic limited company

10/15	1 240 000	1 180 000	1 050 000
70	8 630 000	8 120 000	7 940 000
9904	412 000	388 000	301 000
17/49	2 970 000	3 140 000	3 380 000
9087	24,3	23,1	21,8

REFINA

Overview

What does REFINA do?

Trend over 20 financial years

Indicative valuation

Board of directors

Other companies at this address

Financials

Full financial information

Financial ratios

Annual accounts filings

Valuation

Indicative valuation

Directors & structure

Board of directors

Ownership and network

Publications

Belgian Official Gazette publications

Similar companies

Similar companies

Timeline